Levein has been out of work since being relieved of his duties with Scotland in November 2012.
He has been keeping himself busy since then, but is now ready to make a return to the dugout.
Opportunities have arisen in the Far East, but the ex-Leicester City and Dundee United manager is convinced that he can do a job at a forward-thinking outfit somewhere in Britain.
He told the Daily Record: "I had an opportunity to manage a club in China but I turned it down. I felt that in order to give myself a proper chance I had to go somewhere where English was widely spoken.
"There was an approach to see if I would be interested in managing another country and the language barrier wouldn't have been a difficulty, but I'm still weighing up my options.
"Time isn't weighing heavily on my hands, but it does feel like a year since I was last gainfully employed.
"I've got into the training of racehorses at a stable in Kinross and I've learned a lot from watching someone like former National Hunt champion jockey Peter Scudamore when I'm there.
"But my future's in football and I'm ruling nothing out where that is concerned. There are more opportunities to work in England and I'd like to go back there one day.
"I know instinctively that there is somebody out there for me, an owner who's looking for someone to protect the future of his club where the production of young players is concerned."